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Equilibre, coordination et cycle

Author

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  • Jean-Luc Gaffard

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

Equilibrium, co-ordination and cycles Theories of business cycles, as they emerge at the beginning of the fifties, essentially focus on co-ordination issues and more precisely on the effects of out-of-equilibrium investment behaviours. New theories, that has been developed from the beginning of the seventies onwards, are based on the so-called equilibrium method and focus on the properties of the utility function, the production function or the ex ante structure of information. They constitute a real challenge for the "old" theories, but they do not make them obsolete insofar as they miss the crucial point which is to explain the nature of a 'multi-phase (or multi-regime) dynamics'.

Suggested Citation

  • Jean-Luc Gaffard, 2000. "Equilibre, coordination et cycle," SciencePo Working papers Main hal-03582921, HAL.
    • Handle: RePEc:hal:spmain:hal-03582921
    DOI: 10.2307/3503089
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03582921
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    Keywords

    Croissance cyclique; Théorie des cycles d'affaires; Structure d'information ex-ante;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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